Penneo AS Correlations
| PENNEO Stock | DKK 16.40 0.05 0.30% |
The current 90-days correlation between Penneo AS and FOM Technologies AS is -0.04 (i.e., Good diversification). The correlation of Penneo AS is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Penneo AS Correlation With Market
Good diversification
The correlation between Penneo AS and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Penneo AS and DJI in the same portfolio, assuming nothing else is changed.
Penneo |
The ability to find closely correlated positions to Penneo AS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Penneo AS when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Penneo AS - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Penneo AS to buy it.
Moving against Penneo Stock
| 0.56 | NOVO-B | Novo Nordisk AS | PairCorr |
| 0.47 | ACT | DecideAct AS | PairCorr |
| 0.37 | ORSTED | Orsted AS | PairCorr |
| 0.31 | SHAPE | Shape Robotics AS | PairCorr |
Related Correlations Analysis
| 0.49 | -0.41 | 0.26 | 0.41 | CBRAIN | ||
| 0.49 | -0.76 | 0.67 | 0.87 | FOM | ||
| -0.41 | -0.76 | -0.34 | -0.69 | CHEMM | ||
| 0.26 | 0.67 | -0.34 | 0.6 | BIOPOR | ||
| 0.41 | 0.87 | -0.69 | 0.6 | NETC | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Penneo Stock performing well and Penneo AS Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Penneo AS's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CBRAIN | 2.80 | 0.09 | 0.02 | 0.01 | 5.00 | 7.03 | 30.19 | |||
| FOM | 2.96 | (0.44) | 0.00 | 4.00 | 0.00 | 6.25 | 19.67 | |||
| CHEMM | 2.01 | 0.18 | 0.08 | 0.18 | 2.36 | 4.32 | 16.13 | |||
| BIOPOR | 2.06 | (0.18) | 0.00 | (0.33) | 0.00 | 4.73 | 17.25 | |||
| NETC | 1.61 | (0.38) | 0.00 | 1.08 | 0.00 | 2.43 | 20.12 |
Penneo AS Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Penneo AS stock to make a market-neutral strategy. Peer analysis of Penneo AS could also be used in its relative valuation, which is a method of valuing Penneo AS by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Penneo AS Corporate Management
Elected by the shareholders, the Penneo AS's board of directors comprises two types of representatives: Penneo AS inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Penneo. The board's role is to monitor Penneo AS's management team and ensure that shareholders' interests are well served. Penneo AS's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Penneo AS's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Loredana | Head Communications | Profile | |
| Sara L | Head Culture | Profile | |
| Gautier Garin | Head Marketing | Profile | |
| Casper Christiansen | Chief Officer | Profile | |
| Mathias | Director Accounting | Profile | |
| Carsten | Financial Controller | Profile | |
| Andre Clement | CoFounder Officer | Profile |